LOS
ANGELES, June 13, 2023 /PRNewswire/ -- RadNet,
Inc. (NASDAQ: RDNT), a national leader in providing
high-quality, cost-effective, fixed-site outpatient diagnostic
imaging services, announced today that it intends to offer and
sell, subject to market and other conditions, an underwritten
public offering of $175,000,000 of
shares of common stock. In addition, RadNet intends to grant the
underwriters a 30-day option to purchase up to an
additional $26,250,000 shares of
common stock. There can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
RadNet intends to use the net proceeds from the proposed
offering to pay down $100 million of
its first lien term loans and for working capital and general
corporate purposes.
Jefferies and Raymond James are
acting as joint bookrunning managers for the offering.
The securities described above are being offered by RadNet
pursuant to a shelf registration statement previously filed and
declared effective by the Securities and Exchange Commission
("SEC"). A preliminary prospectus supplement and accompanying
prospectus relating to the offering will be filed with the SEC.
When available, copies of the preliminary prospectus supplement and
the accompanying prospectus relating to the offering may be
obtained from: Jefferies LLC, Attention: Equity Syndicate
Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at
(877) 821-7388 or by email at
prospectus_department@jefferies.com; or from Raymond James & Associates, Inc., Attention:
Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, by telephone at
(800) 248-8863, or by email at prospectus@raymondjames.com.
Electronic copies of the preliminary prospectus supplement and
accompanying prospectus will also be available on the website of
the SEC at http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any
such state or jurisdiction.
About RadNet, Inc.
RadNet, Inc. is the leading national provider of freestanding,
fixed-site diagnostic imaging services in the United States based on the number of
locations and annual imaging revenue. RadNet has a network of
363 owned and/or operated outpatient imaging centers.
RadNet's markets include California, Maryland, Delaware, New
Jersey, New York,
Florida and Arizona. In addition, RadNet provides
radiology information technology and artificial intelligence
solutions, teleradiology professional services and other related
products and services to customers in the diagnostic imaging
industry. Together with affiliated radiologists, and inclusive of
full-time and per diem employees and technicians, RadNet has a
total of over 9,000 employees.
Forward-Looking Statements
RadNet cautions you that statements contained in this press
release regarding matters that are not historical facts are
forward-looking statements. These statements are based on the
company's current beliefs and expectations. Such forward-looking
statements include, but are not limited to, statements relating to
the offering, including the timing and size of the offering and the
anticipated use of proceeds therefrom and the grant of the option
to purchase additional shares. The inclusion of forward-looking
statements should not be regarded as a representation by RadNet
that any of its plans will be achieved. Actual results may differ
from those set forth in this press release due to the risks and
uncertainties inherent in RadNet's business, including, without
limitation: the risks and uncertainties associated with market
conditions and the satisfaction of customary closing conditions
related to the proposed public offering and the other risks and
uncertainties described in the Company's filings with the SEC,
included under the heading "Risk Factors" in the Company's Annual
Report on Form 10-K and any subsequent filings with the SEC. You
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof, and RadNet
undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date
hereof. All forward-looking statements are qualified in their
entirety by this cautionary statement, which is made under the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995.
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SOURCE RadNet